WTI Futures Rebound as U.S. Crude Inventories Decline
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West Texas Intermediate advanced in New York amid signs of a reduction in U.S. crude inventories.
Futures gained as much as 1 percent in New York. A government report today will show supplies declined by 800,000 barrels, according to a Bloomberg News survey. The American Petroleum Institute said yesterday that crude stockpiles shrank 7.79 million barrels last week, the most since Dec. 28. The U.S. will today extend waivers from sanctions for nine nations that import Iranian oil, a U.S. official said.